Common use of Purchase and Resale of the Securities Clause in Contracts

Purchase and Resale of the Securities. (a) The Company agrees to issue and sell to each Underwriter, and each Underwriter agrees, on the basis of the representations, warranties and agreements and subject to the conditions set forth in the Pricing Agreement, to purchase, severally and not jointly, from the Company, at the Purchase Price set forth in the Pricing Agreement, the principal amount of the Securities set forth opposite such Underwriter’s name in Schedule I to the Pricing Agreement. The Company will not be obligated to deliver any of the Securities except upon payment for all the Securities to be purchased as provided in the Pricing Agreement.